Cairo - Mubasher: The sales of Egyptian Iron and Steel (Hadisolb) slid by 32.3% year-on-year (YoY) in the first five months of 2019, the board of directors of Hadisolb announced.
The total sales amounted to around EGP 317.3 million from July to November 2019, compared to EGP 469.15 million in the same period in 2018, according to the company’s disclosure to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, in the first half of fiscal year 2019, which starts in July, revenues reached EGP 487.91 million.
It is noteworthy to mention that in the first quarter (Q1) of 2019, Hadisolb logged losses of EGP 367.8 million, compared to EGP 178.14 million in the same period in 2018.
As for the sale in Q1-19, they dropped to EGP 253.4 million from EGP 261.22 million in the same period of the prior year.
